Adding assets to HuF after its formation

Tax queries 406 views 1 replies

Hello Everyone,

I formed an HUF (Hindu Undivided Family) with my wife using the money we received during our marriage, and it has been 10 years since its formation. Recently, I inherited an asset from my father through his will. I would like to know if I can add this asset to my already established HUF.

Firstly, was the formation of my HUF done correctly? If I add the asset I received from my father, will there be any taxation issues? If it is possible to do so, how should I proceed? Should I create a new HUF or append the document to the existing HUF agreement?

Thank you for your guidance.

Replies (1)

Yes. You can add the property to existing HUF. No need to form another HUF.


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